(By Raymond Crews, State Representative from District 8 and founding member of the Louisiana Freedom Caucus) — In times of uncertainty, gold and silver are a check against the reckless spending of our federal government and the inflation that out-of-control spending causes. I am offering a bill, HB714, in the House Committee on Commerce, on Monday morning, March 25, that would make gold and silver a currency in Louisiana and allow our citizens an easy path to securely purchase over time at whatever level that is affordable.

Treasurer John Fleming and I will testify in favor of this bill in the committee hearing. We encourage you to tune in and see how this could be part of the effort we are undertaking with Governor Jeff Landry to make Louisiana as great as her people.

You can watch the Commerce Committee hearing here, starting at 9:30 am CDT.

One of the drawbacks for anyone choosing to acquire physical gold and silver is access to the value in an emergency situation when you need immediate access. My bill would allow you to spend your currency just as you would dollars with a debit card that is worth the amount of the gold and silver deposit you have in your account at the current market rate.

This is already being done with gold in other countries, and Americans can participate with these companies such as Glint Pay but that gold is not physically located in the United States. If my bill passes, the real gold and silver you purchase would be yours and it would be stored in America. It would exist in a depository, not just as digital currency or a piece of paper backed up by nothing.

Or you can save that gold and silver that would exist in a secure depository where any depositor could take physical possession of their currency if desired.

Gold and silver have been a stable source of currency for centuries. It is time we address the ramifications of our federal government’s out-of-control spending, the resulting inflation, and the harm it is causing to the people of Louisiana.

Regardless of economic class, this offers to all of Louisiana’s people the opportunity to have money held in precious metals. It is a light on the horizon for our state and our citizens. We should pass this bill to offer this opportunity to secure our futures with a stable currency.

RELATED ARTICLES

Will Louisiana Be First with Gold? The Louisiana Gold Currency Platform

Regarding Digital Currency, LA Should Not Fall for the Convenience Trap

—

Raymond Crews is the State Representative from District 8 representing Bossier Parish and is a founding member of the Louisiana Freedom Caucus.